USD JPY Fundamental Analysis 1
8/5/2016 8:02:23 AM
The USD/JPY pair persisted limited within a narrow trading band, just around 101.00 handle as markets wait for fresh motivation from today's NFP release. In spite of its last week's BoJ-led sharp slide and following failure on disappointment from Japanese government fiscal stimulus announcement, the pair has unsuccessful to register any meaningful recovery from lower levels. Though, for now bears seem to take a breather ahead of the most keenly watched and one of the most significant market moving releases from the US, monthly jobs report (NFP) later during NA trading session. On the downside, 100.70 region lefts immediate support to defend, which if broken conclusively should drag the pair immediately towards 100.00 important psychological mark. Below 100.00 support, the fall could more get extended towards Brexit-led fluctuate lows support near 99.00 round figure mark. In the meantime, any recovery effort might carry on to face immediate persistence near 101.50-60 region, above which the pair seems to regain 102.00 handle before heading towards its next major persistence near 102.45-50 region.